HCMC – Gold prices at major jewelry firms surged by nearly VND3 million per tael this morning, April 11, sending the selling price of gold bars up to an all-time high of VND106.4 million per tael, according to local media reports.
At around 9 a.m., Saigon Jewelry Company (SJC), DOJI, and PNJ quoted gold bar prices at VND103.4 million per tael for buying and VND106.4 million per tael for selling, up by VND2.8 million compared to yesterday’s close.
Phu Quy Jewelry raised its buying price by VND2.9 million and its selling price by VND2.8 million, quoting between VND102.9 million and VND106.4 million per tael. The spread between buying and selling prices at some firms widened to VND3.5 million per tael.
Gold ring prices followed a similar uptrend.
SJC listed the buying and selling prices of its gold rings at VND102.4 million and VND105.5 million per tael, respectively, increasing by VND2.6 million on both sides.
At Phu Quy Jewelry, gold rings were priced at VND102 million for buying and VND105.8 million for selling, up by VND2 million and VND2.6 million, respectively. This marked the highest gold ring prices ever.
The domestic price hike mirrors the global gold market’s rally. According to the Vietnam News Agency (VNA), spot gold traded at US$3,160.82 per ounce as of 12:54 a.m. Vietnam time on April 11, up by 2.6%, after hitting a record high of US$3,171.49 earlier in the session. Gold futures rose 3.2% to US$3,177.50 per ounce.
The surge was attributed to a weaker U.S. dollar and escalating trade tensions between the U.S. and China, prompting investors to seek safe-haven assets.
